8K Miles Software gains after fixing record date for stock split, bonus issue

8K Miles Software Services rose 3.58% to Rs 1,970 at 9:50 IST on BSE after the company said its board has fixed 13 October 2016 as the record date for ascertaining the eligibility of the shareholders entitled for stock split and bonus issue.

The announcement was made after market hours yesterday, 26 September 2016.

Meanwhile, the BSE Sensex was up 81.02 points, or 0.29%, to 28,375.30.

On BSE, so far 4,942 shares were traded in the counter, compared with average daily volume of 9,089 shares in the past one quarter. The stock hit a high of Rs 1,976 and a low of Rs 1,924.60 so far during the day. The stock hit a 52-week high of Rs 2,550 on 14 January 2016. The stock hit a 52-week low of Rs 1,275 on 12 February 2016. The stock had underperformed the market over the past 30 days till 26 September 2016, falling 5.73% compared with 1.84% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 3.06% as against Sensex's 6.67% rise.

The small-cap company has equity capital of Rs 11.44 crore. Face value per share is Rs 10.

On 24 August 2016, 8K Miles Software Services announced that its board approved splitting each equity share into two (2-for-1) and issuing one bonus share for three shares held (1:3).

On a consolidated basis, net profit of 8K Miles Software Services rose 167.73% to Rs 19.33 crore on 105.44% rise in net sales to Rs 103.87 crore in Q1 June 2016 over Q1 June 2015.

8K Miles Software Services is a global Cloud, Software as a Service (SaaS) and Security Solutions company based in the San Francisco Bay area.

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